Edgewater Announces Closing of Private Placement
Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) has completed its previously announced non-brokered private placement, raising $1,915,000 through the issuance of 38,300,000 units at $0.05 per unit. Each unit includes one common share and one warrant, exercisable at $0.08 for two years. The company paid $17,150 in finder's fees, issued 1,533,000 common shares, and 2,314,000 finder's warrants. The proceeds will be used for product commercialization and working capital. Company insiders participated in the placement for $150,000. All securities are subject to a four-month hold period.
Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) ha completato il collocamento privato non intermediato precedentemente annunciato, raccogliendo $1,915,000 tramite l'emissione di 38.300.000 unità a $0,05 per unità. Ogni unità comprende un'azione comune e un warrant, esercitabile a $0,08 per due anni. L'azienda ha pagato $17.150 in commissioni di intermediazione, emesso 1.533.000 azioni comuni e 2.314.000 warrant di intermediazione. I ricavi saranno utilizzati per la commercializzazione del prodotto e il capitale circolante. I dirigenti dell'azienda hanno partecipato al collocamento per $150.000. Tutti i titoli sono soggetti a un periodo di blocco di quattro mesi.
Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) ha completado su colocación privada no intermediada previamente anunciada, recaudando $1,915,000 a través de la emisión de 38,300,000 unidades a $0.05 por unidad. Cada unidad incluye una acción común y un warrant, ejercitable a $0.08 durante dos años. La empresa pagó $17,150 en comisiones de intermediación, emitió 1,533,000 acciones comunes y 2,314,000 warrants de intermediación. Los ingresos se utilizarán para la comercialización del producto y capital de trabajo. Miembros internos de la empresa participaron en el colocamiento por $150,000. Todos los valores están sujetos a un período de bloqueo de cuatro meses.
엣지워터 무선 시스템스 (TSX-V: YFI, OTC: KPIFF)가 이전에 발표한 비대리인 사모 배정을 완료하고, $1,915,000를 조달하였으며, 38,300,000개의 유닛을 개당 $0.05의 가격으로 발행하였습니다. 각 유닛에는 한 주식과 2년 동안 $0.08에 행사할 수 있는 한 개의 워런트가 포함되어 있습니다. 회사는 중개 수수료로 $17,150를 지급하고, 1,533,000주를 발행했으며, 2,314,000개의 중개 워런트를 발행했습니다. 수익금은 제품 상용화 및 운전 자본에 사용될 예정입니다. 회사의 내부자가 $150,000에 배정에 참여했습니다. 모든 증권은 4개월의 유예 기간에 따라 제한됩니다.
Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) a complété sa placement privé non intermédié précédemment annoncé, levant $1,915,000 par l'émission de 38,300,000 unités à $0,05 par unité. Chaque unité comprend une action ordinaire et un bon de souscription, exerçable à $0,08 pendant deux ans. L'entreprise a payé $17,150 en frais de recherche, émis 1,533,000 actions ordinaires et 2,314,000 bons de souscription d'intermédiation. Les fonds seront utilisés pour la commercialisation des produits et le fonds de roulement. Des initiés de l'entreprise ont participé au placement pour $150,000. Tous les titres sont soumis à une période de blocage de quatre mois.
Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) hat die zuvor angekündigte nicht vermittelte Privatplatzierung abgeschlossen und $1,915,000 durch die Ausgabe von 38.300.000 Einheiten zu je $0,05 pro Einheit aufgenommen. Jede Einheit umfasst eine Stammaktie und einen Warrant, der zwei Jahre lang zum Preis von $0,08 ausgeübt werden kann. Das Unternehmen zahlte $17.150 an Vermittlungsgebühren, stellte 1.533.000 Stammaktien und 2.314.000 Vermittlungswarrants aus. Die Einnahmen werden für Produktkommerzialisierung und Betriebskapital verwendet. Insider des Unternehmens nahmen für $150.000 an der Platzierung teil. Alle Wertpapiere unterliegen einer Haltedauer von vier Monaten.
- Raised $1.915M in fresh capital through private placement
- Insider participation of $150,000 shows management confidence
- Warrants could provide additional future funding at $0.08 per share
- Significant dilution with 38.3M new units issued
- Additional potential dilution from 40.61M warrants (including finder's warrants)
- Relatively low unit price of $0.05 indicates weak market position
Not for distribution in
Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant is exercisable for two years from the date of issuance and entitles the holder to purchase one additional Common Share at an exercise price of
The Company intends to use the net proceeds of the Private Placement for product commercialization and general working capital. Depending on the development of its business, the Company may reallocate the proceeds from the Private Placement as needed.
In connection with closing of the Private Placement, the Company paid cash finder’s fees totaling
All securities issued in connection with the Private Placement are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation and the policies of the TSX Venture Exchange.
The securities issued pursuant to the Private Placement have not been registered under the
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) the Company advises that certain directors and officers of the Company participated in the Private Placement for aggregate proceeds of
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater’s In-band Multi-Channel Wi-Fi technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided or sliced to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in
For more information, visit www.edgewaterwireless.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe" and similar expressions are intended to identify forward-looking information or statements. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company’s actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to use of proceeds of the Private Placement, access to capital markets, market forces, competition from new and existing companies, and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241231760528/en/
Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com
Bill Mitoulas, Investor Relations
E: ir@edgewaterwireless.com
T: +1.416.479.9547
Source: Edgewater Wireless Systems Inc.
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